Cash?

runamuk

Very Active Member
Messages
1,439
Just looking for opinions.
Is there any real benefits to having large amounts of cash on hand?
What would be the disadvantages of saving up a bunch of cash for a rainy day?
Seems like more and more places like car lots and boat sales wont even accept it anymore.
 
Car and boat dealers accept cash here in the Emerald Triangle, or they'd go broke.

Everyone should have emergency cash, a few thousand at least.
 
Just seems like everything is heading towards electronic currency More and more every day.
Banks are snoopy as hell and any transaction over 10,000 is reported to the IRS.
I recently tried Depositing two grand into someone else’s account in another state at Wells Fargo and they would not accept cash, I had to go to the post office and get a money order before they would allow me to deposit it.

It just seems that cash is more and more useless every day.
 
Just seems like everything is heading towards electronic currency More and more every day.
Banks are snoopy as hell and any transaction over 10,000 is reported to the IRS.
I recently tried Depositing two grand into someone else’s account in another state at Wells Fargo and they would not accept cash, I had to go to the post office and get a money order before they would allow me to deposit it.

It just seems that cash is more and more useless every day.


It doesn't "seem" that way, it is that way. The goal is to control your money, one more way to control you!

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So that pretty much answers my original question.....
There is no real benefit to sitting on a substantial amount of greenback dollars.
In fact it is a disadvantage.

Would gold be better than cash?
 
Here's My Question:

No Doubt You can Say You Made Money on Gold!

But!

Will the 4K worth of Gold You Bought 5 Years ago Buy You anything More Today than it would 5 Years ago?
 
Here's My Question:

No Doubt You can Say You Made Money on Gold!

But!

Will the 4K worth of Gold You Bought 5 Years ago Buy You anything More Today than it would 5 Years ago?

I'd say as long as you can spend it yer doing ok.
Getting pretty tough to spend cash these days and I doubt its going to get any easier as time goes by.
 
Cash is kind of a rare item in my house. I have direct deposit for my income, pay bills on line and use a debit card when making purchases. I keep some cash for small items, farmers market, garage sales, etc. It's good to have a few thousand on hand if you need to bug out for whatever reason.
 
When Covid shutdowns started we went and grabbed $5k out of the bank.

Bought 2 Costco TP packages. Dam fine investment!!

Seriously though we figured things might get dicey for a week or 2, which it did, but honestly if the economy totally crashed cash would be as useless as gold.

We are still sitting on it though so I guess we arent 100% sure things have settled totally.
 
Here's My Question:

No Doubt You can Say You Made Money on Gold!

But!

Will the 4K worth of Gold You Bought 5 Years ago Buy You anything More Today than it would 5 Years ago?
Five years ago Gold was around $1100 an ounce now it is around $1900 an ounce. That' s a pretty good increase I'd say
 
If you hoard a bunch of cash how are you going to protect it. Most gun safes are fire resistant not fireproof. If $50,000 burns up in a gun safe your insurance isn't going to reimburse you. (A really high end safe might work)

You could put it in a safe deposit box at the bank but that wouldn't be much different than just leaving it in your bank account.

I keep about a$1,000 bucks just in case but would probably keep more if I thought I could protect it.

A lot of things could make you a target for robbery, cash, guns or jewelry.
 
If you're thinking really tough times, trade items will be worth more than cash, gems, or precious metals. Think tobacco, alcohol, soda, basic medicines, etc. People will give up good food for those.

Some cash on hand makes sense, as well as extra fuel.
 
..........talking about what you have in your house on the internet.

If that's directed towards me.....

I never said I had anything in my house, what little money I have is in in the bank.
I did recently have a discussion with somebody that claimed they have a large sum of cash stashed.
He encouraged me to take what little I do have in the bank out and sit on the cash, so it just got me to thinking.
Personally I don't think that's a wise decision, like was said above cash is getting more worthless everyday.
Also I suspect the guy was just talking out his ass, it appeared to me that he didn't have a pot to piss in or a window to throw it out of, plus he was fairly drunk.

I was just wondering what others thoughts were on the value of cash.
 
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I keep a little emergency cash on hand but nowhere near $50K.

Things would really have to go to hell for a long long long time for your cash to become worthless so I don't see a downside of having some liquid funds on hand.

I have enough rifle, shotgun and pistol powder to last a couple lifetimes and THAT has some serious trade value if the cash becomes worthless.

Zeke
 
Here in rural America, cash is still king in a pinch. Gold is worthless to barter with unless its with another gold nut.:rolleyes:
 
A little mad money in the wallet, in case a new gun attacks you. A little emergency cash in the gun safe for short notice emergency.
 
If that's directed towards me.....

I never said I had anything in my house, what little money I have is in in the bank.
I did recently have a discussion with somebody that claimed they have a large sum of cash stashed.
He encouraged me to take what little I do have in the bank out and sit on the cash, so it just got me to thinking.
Personally I don't think that's a wise decision, like was said above cash is getting more worthless everyday.
Also I suspect the guy was just talking out his ass, it appeared to me that he didn't have a pot to piss in or a window to throw it out of, plus he was fairly drunk.

I was just wondering what others thoughts were on the value of cash.

Not at you or anyone else. I'm just always amazed at what people say they have or even worse post pics of a valuable collection they have. Was just adding on to WV's comment about making oneself a target.
 
If Wells Fargo won't take cash,....... change banks!.

There are two kinds of people in the world, the night people and the day people, it's the job of the night people to get the money of the day people.
 
If Wells Fargo won't take cash,....... change banks!.

There are two kinds of people in the world, the night people and the day people, it's the job of the night people to get the money of the day people.

No way do I bank at Wells Fargo! It was the the recipient that banks there.
I bank with a local bank and have been very pleased with them.

I have since discovered zelle and have found it to be a very convenient method of sending money.
 
If you're thinking really tough times, trade items will be worth more than cash, gems, or precious metals. Think tobacco, alcohol, soda, basic medicines, etc. People will give up good food for those.

Some cash on hand makes sense, as well as extra fuel.
toilet paper at $50 a roll
 
Silver is a better investment than gold long term
Silver I bought in 2004 has doubled in price

I agree on the Silver, but buy some 2 1/2 dollar gold Indian Head coins. I bought a couple off a friend at $190 each they sell for around $350 each now and if their graded even more, mine are not. What I like about them they‘re like land they aren’t many anymore of them also you can buy one here and there without breaking the Bank

joe
 
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